Equities research analysts at Seaport Global Securities began coverage on shares of Tellurian (NASDAQ:TELL) in a research report issued on Thursday. The firm set a “buy” rating and a $14.00 price target on the oil and gas producer’s stock. Seaport Global Securities’ target price would indicate a potential upside of 47.52% from the company’s current price.
Other analysts have also recently issued reports about the company. Cowen started coverage on Tellurian in a report on Friday, November 17th. They issued an “outperform” rating and a $13.50 target price for the company. BidaskClub cut Tellurian from a “hold” rating to a “sell” rating in a report on Thursday.
Shares of Tellurian (TELL) traded down $0.15 during trading hours on Thursday, reaching $9.49. The company’s stock had a trading volume of 1,333,984 shares, compared to its average volume of 648,237. Tellurian has a 12 month low of $6.03 and a 12 month high of $21.74.
Large investors have recently modified their holdings of the business. Bank of America Corp DE purchased a new stake in Tellurian in the 1st quarter valued at $307,000. Morgan Stanley purchased a new position in shares of Tellurian during the 1st quarter worth $1,811,000. Nationwide Fund Advisors purchased a new position in shares of Tellurian during the 2nd quarter worth $313,000. Credit Suisse AG purchased a new position in shares of Tellurian during the 1st quarter worth $414,000. Finally, California Public Employees Retirement System purchased a new position in shares of Tellurian during the 1st quarter worth $379,000. Institutional investors own 9.81% of the company’s stock.
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Tellurian Company Profile
Tellurian Inc, formerly Magellan Petroleum Corporation, is an oil and gas exploration and production company. The Company focuses on the development of liquefied natural gas (LNG) projects along the United States Gulf Coast through its subsidiary, Tellurian Investments Inc The Company owns interests in the Horse Hill-1 well and related licenses in the Weald Basin, onshore the United Kingdom, and an exploration block, NT/P82, in the Bonaparte Basin, offshore Northern Territory, Australia.